Global Partners to draw down on revolver to acquire five terminals

By Wendy Van Sickle

Columbus, Ohio, Dec. 19 – Global Partners LP plans to borrow under its revolving credit facility to finance its acquisition of all the issued and outstanding equity interests of New Haven NewCo, Woodbury NewCo, Portland NewCo, Linden NewCo and Chelsea NewCo from Gulf Oil LP for a $273 million cash purchase price, according to an 8-K filing with the Securities and Exchange Commission.

The five terminals being acquired have an aggregate storage capacity of approximately 3.9 million barrels.

The acquisition is expected to close in the first half of 2023.

Global Partners is a Waltham, Mass.-based midstream energy logistics and marketing company.

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